[wallerbusiness]

A merchant has a gas station 600k monthly rev 300k from the store and 300k from the gas. He defaulted and paid off the judgment with Everest. The judgment is NOT showing up on his credit but will show up if the background is ran. No open positions and the banking is healthly. We have the full package on the merchant. Is the deal even possible?

[ADiamond]

A merchant has a gas station 600k monthly rev 300k from the store and 300k from the gas. He defaulted and paid off the judgment with Everest. The judgment is NOT showing up on his credit but will show up if the background is ran. No open positions and the banking is healthly. We have the full package on the merchant. Is the deal even possible?

Your best bet is to do what you're doing and just communicate with your funders the situation. If the story behind the judgment makes sense, someone will give a "rehabilitation funding" offer at the very least... meaning 10-20k, 1.499 paying 6% or so @ 30-40 days.

then you just tell him he needs to build the relationship and he will renew in a month.

P.M. me if you want me to look at it... also find out if the gasoline supplier has control over the credit cards and pays the gas bill with credit card processing then deposits the rest - that's usually how they work, unless he has a different arrangement.

[Sachip24]

ive seen much worse get funded so there is definitely lenders that will risk it.

[MidnightAdvance]

We can do something small and short, like Anthony said.

[Nunya]

We can do something small and short, like Anthony said.

Small and short. Is that what you want to be known for?

[MidnightAdvance]

No, but in this case I don't believe any funder would do a big and long term deal. We are willing to take the risk on something small and short un til payment history is re-established.

[Nunya]

It was a joke. Whoosh!

[Yankeeman07]

A merchant has a gas station 600k monthly rev 300k from the store and 300k from the gas. He defaulted and paid off the judgment with Everest. The judgment is NOT showing up on his credit but will show up if the background is ran. No open positions and the banking is healthly. We have the full package on the merchant. Is the deal even possible?

How much is the merchant seeking?

[ryan $]

Aquila

[mcaguru]

My 13 years in MCA tell me once the default they usually default again sooner or later....(I would love to get an update in 15 weeks ...so i can have have a more open mind on this matter)....

[Karen37a]

My 13 years in MCA tell me once the default they usually default again sooner or later....(I would love to get an update in 15 weeks ...so i can have have a more open mind on this matter)....

What I have seen from the merchants ( and they do not see me as the enemy because I am not the funder so sometimes they tell me the truth )

Is most defaults will default again because they have a fk them attitude ...some who were forced into default or slow paid "might" not default again( like a client bounced a check on them to send them into the red )...100% of the fk them will default again....50%-75% of the slow pays depending on why.

I ditch the fk them ones right off the get go and run...they are saying they are going to default in advance

[ADiamond]

My 13 years in MCA tell me once the default they usually default again sooner or later....(I would love to get an update in 15 weeks ...so i can have have a more open mind on this matter)....

i have seen previously defaulted merchants pay off, or renew and become long-term clients.

like i said, it comes down to the nature of the default.

i had a guy who sent a lender to corporate turnaround and honestly didnt realize what he was getting into because they're scumbags and lied to him, he's been a client of mine for over a year.